The first Venture Studio model with a Web3 focus to enter the MENA region is Qurious Labs. This business model supports daring entrepreneurs in MENA who are creating web3 businesses that leverage blockchain, virtual currencies, NFTs, gaming, and the Metaverse as well as exploiting decentralised applications.

Qurious Labs can collaborate with Web3 creatives and developers that have incredibly low resources and produce world-class products with them by fusing the incentive structure of a co-founder, the assets of a development firm, and the venture fund network.

Openner, an Egyptian venture capital firm, is supporting The Venture Studio. Openner is sure that additional VCs will recognise the value of the Venture Studio model and the promise that web3 holds for emerging countries when it comes to utilising open protocols on the blockchain and token economics.

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As a studio, its objective is to enable people to profit from and own a piece of this new internet while assisting developing markets in gaining access to a global talent and financial pool.

“We deeply believe that web3 will have the biggest impact on society and business since the introduction of the internet”, says Ahmed El Wassimy, Studio Director. “Over half a million developers around the world are building the infrastructure that will shape an always-on, economically equitable future for society leveraging web3 and we’re excited to embark on this journey to bridge the gap between web3 and emerging marketing in the Middle East and North Africa.”

Qurious Labs’ main objective is to provide a complete ecosystem for developers to start their web3 projects and for brands to investigate web3 business strategies. They accomplish this by serving as a one-stop shop for developers to create and publish their web3 projects. In order to create and finance resilient communities, platforms, and economies, builders receive valuable expertise from seasoned builders, thought leaders, and veteran investors.

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In order to leverage and contribute to web3 projects they work on and have “ownership” in high-quality projects before anyone else, Qurious Labs is growing a network of web3 talent and expertise in many fields, including UX/UI, full-stack, content creation, community building, marketing, and game design & development.

“Web3 is the golden age for creators and artists,” says Kareem Karam, Venture Architect at Qurious Labs, “We see the potential of Web3 as a force for good, and we are eager to work with policymakers to define a vision for how to use these powerful new tools to benefit society and ensure they realise their full potential.”

A lot of well-known VCs are placing large bets on gaming and web3 business concepts. The Qurious Labs team predicts that web3 will start receiving the majority of the attention once the current global recession storm has passed.

“The old ways of raising money and growing at all costs are over with. Web3 communities and networks will motivate participants to become owners and investors in the networks they want to be a part of and help grow. This will be a whole new way of raising capital from your early believers and die-hard fans. That’s the power of web3 and there’s no better time to build for it.” says El Wassimy.

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While delivering and extracting value with web3 communities around the world, Qurious Labs is concentrating on venture formation and venture support that will on-ramp adoption for emerging markets in MENA. In order to expand on existing infrastructure, Qurious Labs recruits talent from all over the world. The company is also excited to collaborate with partners in the UAE, Saudi Arabia, and Egypt’s civil society and private sector to shape one of the most important dialogues of our time.

“The way we coordinate, govern, and participate in networks will change the way we work and value our time with the growth of web3 and we believe that Qurious Labs is well positioned and resourced to unlock that potential and prioritise the development of world-class, decentralized digital infrastructure for communities everywhere,” says Ash Rofail, General Partner at Openner.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh